SAN DIEGO, March 18, 2013 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that an investor in shares of Bazaarvoice Inc (BV) filed a lawsuit against certain directors and officers of Bazaarvoice Inc over alleged breaches of fiduciary duties in connection with their decision to acquire its main rival PowerReviews Inc.
Investors who are current long-term stockholders of Bazaarvoice Inc (BV) shares, have certain options and should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The plaintiff alleges that in breach of their fiduciary duties as directors of Bazaarvoice Inc they agreed to acquire Bazaarvoice's main rival PowerReviews Inc. in June 2012 and sold more than $90 million in stock
On Jan. 10, 2013, U.S. Justice Department said it filed a civil antitrust lawsuit challenging the June 2012 acquisition by Bazaarvoice Inc of its main rival PowerReviews Inc. According to the U.S. Justice Department, the transaction allegedly substantially lessened competition in the market for product ratings and reviews platforms in the United States, resulting in higher prices and diminished innovation.
Shares of Bazaarvoice Inc (BV) dropped from $8.97 per share on Jan. 10, 2013 to $6.54 per share on Jan. 11, 2013.
Those who are current long term stockholders of Bazaarvoice Inc (BV) shares, have certain options and should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
The Shareholders Foundation, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6931